Please consider the charges, risks, expenses and investment objectives carefully before investing. Please see a prospectus , or if available, a summary prospectus containing this and other information. Read it carefully before you invest or send money.
Returns include reinvestment of dividends and capital gains.
For all funds except Janus Global Real Estate Fund, Janus International Equity Fund, Janus Emerging Markets Fund, Janus Global Bond Fund, Perkins Large Cap Value Fund, Perkins Mid Cap Value Fund and Perkins Small Cap Value Fund: Class D Shares of the Fund commenced operations on 2/16/10, as a result of the restructuring of Class J Shares, the predecessor share class. The performance shown for Class D Shares for periods prior to 2/16/10 reflects the performance of the Fund's former Class J Shares. If Class D Shares of the Fund had been available during periods prior to 2/16/10, the performance shown may have been different. The performance shown for periods following the Fund's commencement of Class D Shares reflects the fees and expenses of Class D Shares, net of any fee and expense limitations or waivers.
A Fund's performance may be affected by risks that include those associated with nondiversification, non-investment grade debt securities, high-yield/high-risk securities, undervalued or overlooked companies, investments in specific industries or countries and potential conflicts of interest. Additional risks to a Fund may also include, but are not limited to, those associated with investing in foreign securities, emerging markets, initial public offerings, real estate investment trusts (REITs), derivatives, short sales, commodity-linked investments, and companies with relatively small market capitalizations. Each Fund has different risks. Please see a Janus prospectus for more information about risks, Fund holdings and other details.Because Janus Capital is the adviser to the Fund and to the underlying funds held within the Fund, it is subject to certain potential conflicts of interest.
Performance of the Janus Allocation Funds depends on that of the underlying funds. They are subject to the volatility of the financial markets.
Funds that invest in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds owned by the fund. Unlike owning individual bonds, there are ongoing fees and expenses associated with owning shares of bond funds. The return of principal is not guaranteed due to net asset value fluctuation that is caused by changes in the price of specific bonds held in the fund and selling of bonds within the fund by the portfolio manager(s).
The proprietary mathematical process used by INTECH may not achieve the desired results. Since the portfolio is periodically re-balanced, this may result in a higher portfolio turnover rate, higher expenses and potentially higher net taxable gains or losses compared to a "buy and hold" or index fund strategy.
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